Rich_Elderberry5153
Rich_Elderberry5153 t1_iuxeoh9 wrote
Reply to comment by 8to24 in Why a Blue check mark is now $8 on Twitter and Elon Musk's Next Steps - A piece of speculative business non-fiction by BandicootKind705
If you don’t see gas as an inelastic good, you’ve never taken an Econ class, and you are not worth discussing this issue with any further. Gas is the #1 example professors use when discussing inelastic goods
Rich_Elderberry5153 t1_iuwrwvk wrote
Reply to comment by 8to24 in Why a Blue check mark is now $8 on Twitter and Elon Musk's Next Steps - A piece of speculative business non-fiction by BandicootKind705
The phenomena you are describing is an elastic vs inelastic good. Elastic goods are easily replaced with alternatives or are simply not a necessary purchase, so when the price gets too high people stop buying. Inelastic goods, like gas, are needed and will be bought more or less despite the price.
Rich_Elderberry5153 t1_j1zeajh wrote
Reply to comment by weenie007 in what could be the next big resource or science that will change our lives? similarly to how Electricity, a wheel or fire did it. by minde0815
I’m officially anti-fusion reactor! No way you’re making my kids gay! /s